VeriFone Approaches, Inc. (PAY) provides point-of-sale devices for payments on purchasing goods and services. These fancies are used at most brick-and-mortar retailers around the world. The company promulgates earnings after the closing bell on Thursday, March 8, with the horses below its 200-day simple moving average since Nov. 1, 2017, with this typical now at $18.56. The stock closed Wednesday, March 7, at $17.97, up 1.5% year to old hat modern and just 3.9% below its Jan. 12 high of $18.70. The stock is 12.3% greater than its 2018 low of $16.00 set on Feb. 6.
In the longer term, VeriFone became an “option on survival” after the smash of 2008, when the stock traded as low as $2.31 in November 2008. I cogitate on a stock trading between $1 and $3 per share as an “option on survival,” as investors should allocate only loots they can afford to lose if the stock goes belly-up. This did not hit on, and VeriFone shares traded as high as $58.88 in April 2011. The routine has been stuck below its 200-day simple moving unexceptional of $18.56 since Nov. 1 on the increase in online sales versus in-store on sales.
Analysts expect VeriFone to post earnings per share of 16 cents when it write-ups results on Thursday. For the stock to have a strong reaction to earnings, the companionship must show gains globally on applications not tied to retail stow aways. (See also: VeriFone Stock: In-Store Shopping Should Help Rise.)
The daily chart for VeriFone
Courtesy of MetaStock Xenith
The daily tabulation for VeriFone shows horizontal lines that are the Fibonacci retracement flatten outs of the decline from the June 2015 high to the October 2016 low. Since this low, the progenitor as failed at its 23.6% retracement of $20.67, which was tested in February 2017 and again between Sept. 8 and Oct. 16, and the farm animals is now below its 200-day simple moving average of $18.56.
The weekly sea-chart for VeriFone
Courtesy of MetaStock Xenith
The weekly chart for VeriFone is enthusiastic, with the stock above its five-week modified moving average of $17.59. The set is well below its 200-week simple moving average of $25.71, which is the “reversion to the carry,” last crossed during the week of Aug. 21, 2015, when the average was $32.53. The 12 x 3 x 3 weekly unpunctual stochastic reading is projected to end this week at 42.63, up from 39.58 on Hike 2.
Given these charts and analysis, investors should buy VeriFone percentages on a breakout above my monthly pivot of $18.47 and reduce holdings on intestinal fortitude to my semiannual risky level of $23.34. (For additional reading, check out: The Digital Purse and the Future of Payments.)